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RE: What is the Lightning Network

in #cryptocurrency7 years ago

What I like about lightning network when compared to Ethereum's proof-of-stake plans is that LN is open and explicit about the centralization risks and is an opt-in mechanism. If you don't want to use payment channels you don't have to.

Ethereum's proof-of-stake is just another "rich get richer" scheme, where ethereum whales get to stake their ETH and earn the profits. And then we're suddenly in a situation where instead of requiring 51% hashpower to hack the network you simply need to have 51% market cap. Which, if history teaches us anything, will happen sooner or later.

just read between the lines here: https://ethereum.stackexchange.com/questions/11182/will-a-higher-stake-make-more-money-in-pos

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